Airbnb could be disrupting not only the housing market, but also neighboring homes.
HousingWire first looked at Airbnb as the cause for rent increases in our September edition magazine. This issue is so important, in fact, that we took an unprecedented step by taking the story out from behind the paywall.
That story is still available for a few more days, and you can read it here.
For those, however, that are concerned about a neighbor who is using Airbnb, there is legal action you can take. HousingWire talked to the chief legal officer, Josh King, from Avvo, which connects people to attorneys, about what some of those options are.
HousingWire: How could having Airbnb neighbors potentially disrupt your lifestyle?
Josh King: It depends - sometimes they don't disrupt anyone's lifestyle at all, and other times loud and destructive renters may take up residence right down the hall from you. Having a new neighbor on a daily or weekly basis can be stressful if they aren't respectful and quiet to the full time residents while staying in the Airbnb. Property can be damaged, and theft or other crimes could be more likely to occur.
HW: How can having Airbnb neighbors affect your property value?
JK: Although it's too soon to tell at the moment, in residential real estate quality neighbors and neighborhoods matter when it comes to property values. When what was originally a building full of condo owners turns into a mix of owners and vacation renters, depending on upkeep of the Airbnb property and the quality of renters it can affect property values of the immediate surrounding properties.
HW: Is this something that you see often?
JK: It's something that's becoming more common as the sharing economy continues to grow and more property owners looking for extra cash through renting out their unit through Airbnb.
HW: What legal actions can homeowners take if they find themselves in this situation?
JK: Some HOAs don't allow Airbnbs and/or subletting, but some property owners choose to ignore their policies rent out their unit anyway. In fact, according to a recent study Avvo conducted on landlord and tenant attitudes, when asked about subletting their rental (such as renting it out on Airbnb), 16% of renters said they’d had an extra person living with them without telling their property manager, and nearly one in five, 18%, said they’d consider subletting if they had space—though only 4% had done so without their landlord knowing.
If you're concerned about an Airbnb neighbor, first talk with the property owner to see if you can talk it out and reach a resolution that way. Also, check your HOA policies to see if Airbnb or other rentals are even allowed. If not, you may have legal ammunition to fight back.
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